Are you sure you want to delete this post?
It might be a question of semantics, but all the Bush tax cuts indeed expired on December 31st. Hence everyone's taxes went up automatically on January 1st as per the prior tax laws. Obama and Democrats technically didn't raise anyone's taxes...rather the opposite. What the Obama administration sold on January 2nd was a tax decrease
for middle class Americans and some upper middle class...those making less than $400,000 per year. The rich...well their very favorable Bush tax cuts finally expired on December 31st and were not renewed. Oh there were a few adjustments to some of them as well, but essentially that part of their decade long gravy train was over.
The payroll taxes also went up by 2 percent on January 2nd as the two year holiday on that reduction also expired automatically. Obama had no control on extending that tax cut...or at least no leverage with the Republican controlled House.
Just wanted to make that clarification.